Citigroup’s (C) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Citigroup (NYSE:C) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $150.00 price target on the stock.

C has been the topic of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Wells Fargo & Company increased their target price on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Morgan Stanley raised their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Jefferies Financial Group initiated coverage on shares of Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Citigroup Price Performance

Shares of NYSE:C opened at $135.03 on Wednesday. The company has a market cap of $230.31 billion, a PE ratio of 14.58, a P/E/G ratio of 0.62 and a beta of 1.11. Citigroup has a fifty-two week low of $87.94 and a fifty-two week high of $147.96. The firm has a 50-day simple moving average of $134.21 and a 200 day simple moving average of $123.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.Citigroup’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, sell-side analysts anticipate that Citigroup will post 10.89 EPS for the current year.

Citigroup declared that its board has initiated a stock buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Citigroup

Large investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup in the 1st quarter worth approximately $25,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at approximately $28,000. TD Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth approximately $28,000. Finally, IMG Wealth Management Inc. raised its holdings in Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup posted a major Q2 earnings beat, with EPS of $3.15 versus $2.74 expected and revenue of about $24.8 billion versus $23.7 billion expected, helped by strong fixed income trading, investment banking, and broad-based strength across its businesses. Article Title
• Positive Sentiment: Management said Citi’s strong quarter reflects a stronger franchise and that it is accelerating investments to support more durable returns, reinforcing the turnaround narrative for the bank. Article Title
• Positive Sentiment: Analysts were upbeat after the report, with RBC reaffirming an outperform rating and a $150 price target, while Truist also kept a buy rating despite trimming its target to $154. Article Title
• Neutral Sentiment: Some valuation commentary said Citigroup may still be near fair value after a strong multi-year rally, suggesting upside is increasingly tied to continued execution rather than just multiple expansion. Article Title
• Negative Sentiment: Despite the earnings beat, shares slipped at times because investors focused on Citi’s higher expense outlook, including accelerated hiring and other investment spending that could pressure second-half profitability. Article Title
• Negative Sentiment: Reports also highlighted possible layoffs and faster job cuts, which may signal ongoing restructuring costs even as the bank tries to complete its transformation. Article Title

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.